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(1a)
The separation of tasks at Zinga Company Limited is referred to as “Division of Labor.”
(1b)
(i) Task Complexity: When tasks are highly complex and require a range of skills, division of labor may not be practical.
(ii) Employee Skills: If the workforce lacks the necessary skills, specialization may lead to inefficiencies.
(iii) Coordination Challenges: Coordinating different tasks and integrating them into a cohesive workflow can be challenging.
(iv) Monotony and Job Satisfaction: Repeated, specialized tasks may lead to employee boredom and decreased job satisfaction.
(1c)
ADVANTAGES:
(i) Increased Efficiency: Division of labor allows workers to specialize, leading to increased efficiency in performing specific tasks.
(ii) Faster Skill Development: Workers become highly skilled in their specialized tasks, contributing to faster production.
DISADVANTAGES:
(i) Job Monotony: Performing the same task repeatedly can lead to monotony, reducing job satisfaction and employee motivation.
(ii) Dependency on Specialists: If a specialized worker is absent or leaves, it can disrupt the entire production process.
(iii) Limited Skill Variety: Workers may become skilled in only one area, limiting their overall skill set and career development.
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(3a)
(i) Multiple locations: Chain stores have several branches or outlets in different locations, often in different cities or regions.
(ii) Standardized branding: Chain stores maintain consistent branding across all their locations, including logos, store layouts, and product offerings.
(iii) Centralized management: Chain stores are typically managed centrally, with decisions and policies being made at a corporate level and implemented across all branches.
(iv) Economies of scale: Chain stores benefit from economies of scale by purchasing goods in bulk, negotiating better deals with suppliers, and streamlining operations.
(3bi)
(i) Cost reduction: By eliminating middlemen, the direct producer can sell their products directly to the end consumers, cutting out the additional costs associated with middlemen’s commissions or fees.
(ii) Increased transparency: Removing middlemen can lead to greater transparency in the supply chain, as there are fewer layers of intermediaries. This can help ensure fair pricing and reduce the risk of unethical practices.
(iii) Better control over product quality: When middlemen are eliminated, producers have more direct control over the distribution and handling of their products, ensuring that quality is maintained throughout the supply chain.
(3bii)
(i) Market reach: Middlemen often have well-established networks and distribution channels that can help producers reach a wider market, including different regions or even countries.
(ii) Expertise and specialization: Middlemen can provide valuable expertise and specialized services, such as marketing, logistics, and customer support, that producers may not have the resources or knowledge to handle themselves.
(iii) Risk reduction: Middlemen can help mitigate risks for producers by taking on responsibilities such as inventory management, credit and payment processing, and navigating complex market dynamics, allowing producers to focus on their core competencies.
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(4a)
(i) Facilitation of Trading:
Stock exchanges provide a platform for the buying and selling of securities (stocks, bonds, etc.) through a centralized marketplace. This facilitates liquidity and price discovery.
(ii) Price Determination:
The continuous trading on stock exchanges helps in determining the market prices of securities based on supply and demand dynamics. This pricing mechanism reflects the perceived value of the companies listed.
(iii) Capital Formation:
Stock exchanges play a crucial role in capital formation by providing companies with a venue to issue and sell their securities to the public. This helps companies raise capital for business expansion and development.
(iv) Information Dissemination:
Stock exchanges disseminate a wide range of financial and non-financial information related to listed companies. This information includes financial reports, news releases, and other disclosures, enabling investors to make informed decisions.
(4b)
(i) Press Releases:
Press releases are official statements issued to media outlets to announce news, events, or updates related to a company. They are a primary tool for conveying information to the public and building media coverage.
(ii) Social Media:
Platforms like Twitter, Facebook, LinkedIn, and Instagram are used for public relations purposes. Companies use social media to engage with the public, share updates, respond to queries, and build a brand presence.
(iii) Corporate Events:
Hosting or participating in corporate events, such as conferences, seminars, or product launches, provides opportunities for direct interaction with the public and media. These events help in building relationships and conveying key messages.
(iv) Company Website:
A company’s official website serves as a central hub for information. It includes press releases, financial reports, product details, and other relevant information. The website is a key medium for maintaining an online presence and providing information to stakeholders.
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(5a)
Marketing mix
(5b)
(i) Product
(ii) Price
(iii) Promotion
(iv) Place
(5c)
(i) Market Understanding:
Marketing helps businesses understand their target market, including customer needs, preferences, and behaviors. This understanding enables better product development and customization.
(ii) Customer Satisfaction:
By identifying and meeting customer needs, marketing contributes to high levels of customer satisfaction. Satisfied customers are more likely to become repeat customers and advocates for the brand.
(iii) Brand Building:
Marketing activities, such as branding, advertising, and public relations, contribute to building a strong and recognizable brand. A well-established brand enhances customer trust and loyalty.
(iv) Revenue Generation:
Effective marketing strategies drive sales and revenue growth. By creating awareness, attracting customers, and promoting products, marketing directly impacts a business’s financial success.
(v) Competitive Advantage:
Marketing helps businesses differentiate themselves from competitors. Through effective positioning and communication, a company can highlight its unique selling propositions and gain a competitive edge in the market.
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(6)
(i) Merger and acquisition:
A merger refers to the combining of two or more companies to form a new entity. It is a voluntary process where companies agree to merge and operate together WHILE An acquisition, on the other hand, involves one company buying another company. It can be a friendly or hostile takeover, where the acquiring company gains control of the acquired company.
(ii) Consortium and trust:
A consortium is a group of independent organizations or individuals that come together to work on a specific project or achieve a common goal. They collaborate while maintaining their separate identities WHILE A trust, in a business context, refers to a legal arrangement where one party holds assets on behalf of another party for the benefit of a third party. It involves the transfer of assets to a trustee who manages them for the beneficiaries.
(iii) Premium and indemnity:
Premium refers to the amount of money paid by an individual or business to an insurance company in exchange for insurance coverage. It is the cost of the insurance policy WHILE Indemnity, in insurance terms, refers to the protection or compensation provided by the insurance company to the insured party for any losses, damages, or liabilities covered by the insurance policy.
(iv) Nominal capital and called-up capital:
Nominal capital, also known as authorized capital or share capital, represents the maximum amount of capital that a company is authorized to issue to its shareholders. It is the total value of shares that a company can legally offer WHILE Called-up capital, on the other hand, refers to the portion of the nominal capital that the company has actually requested shareholders to pay for. It is the amount of capital that shareholders are required to contribute to the company.
(v) Gross profit and net profit:
Gross profit is the revenue a company generates from its sales minus the cost of goods sold (COGS). It represents the profit made before deducting other expenses such as operating expenses, taxes, and interest WHILE Net profit, also known as the bottom line, is the remaining profit after deducting all expenses, including COGS, operating expenses, taxes, and interest, from the total revenue. It represents the actual profit made by the company.
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